Re: Pakistan rejects IMF...
Fraudia ji, I see where you are coming from, and you have raised a very valid point. However, IMF is known to have wrecked countries financially. Now, if the IBRD(World bank), was giving advises, councelling, that would be different. We have to understand that main difference b/w the two. IMF, is an institution, which gives loans on high mark up's, and then forces the countries to adopt extremely aggressive fiscal policies, which in most cases only hurt the people and their respective country's economic policies(South America is filled with such examples). It reminds me of Buy here, Pay here car lots in the U.S. On the other hand IBRD, is a part of the United Nations, and is not as agressive in dealing with its clients as the IMF.